I can't resist.  Were they both stolen at the same time?  Or did he figure the first time it happened, it would never happen again?

And what was his basis?  I had a client with a classic car (from the late 60s) that he had bought used off the lot, when it was a year old, for something like $2,500.  He sold it a few years ago for a seven-figure amount.  He took part of the payment in a Section 1031 exchange, back when you could do that with used cars.  Maybe you still can.  Anyway, he insisted it was insured, but the premiums were something like $25 a year.  I think I helped convince him that there was too much risk in keeping it.